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Policy to Encourage Carbon Sequestration in Plantation Forests

Author

Listed:
  • Suzi Kerr

    () (Motu Economic and Public Policy Research)

  • Emma Brunton

    () (Motu Economic and Public Policy Research)

  • Ralph Chapman

    () (Maarama Consulting Ltd)

Abstract

Carbon sequestration in plantation forests provides the main means by which New Zealand will meet its international climate change obligations in the first commitment period of the Kyoto Protocol (2008-2012). However, without active policy, forests are unlikely to contribute as much in subsequent commitment periods. This research paper provides the background for examining policy measures for encouraging carbon sequestration in plantation forests in New Zealand. Part I focuses on providing factual information and positive analysis of: key domestic and international regulations; information on New Zealand forests, the forestry industry and forest profitability; discussion of land-use decision making, including the central question of what influences conversion of farmland to forestry; and forest carbon ecology. Part II moves on to normative analysis of policy design. It discusses how including considerations of the value of carbon sequestration and storage changes optimal land-use behaviour, and outlines key issues that need to be addressed when developing a policy to encourage sequestration and storage in a pragmatic way. Finally, the paper identifies a number of key areas where we need more information before we can make well-informed choices about policy design. Future work will endeavour to identify and evaluate policies that would effectively encourage sequestration.

Suggested Citation

  • Suzi Kerr & Emma Brunton & Ralph Chapman, 2004. "Policy to Encourage Carbon Sequestration in Plantation Forests," Working Papers 04_05, Motu Economic and Public Policy Research.
  • Handle: RePEc:mtu:wpaper:04_05
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    File URL: http://motu-www.motu.org.nz/wpapers/04_05.pdf
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    References listed on IDEAS

    as
    1. Suzi Kerr, 2003. "Efficient Contracts for Carbon Credits from Reforestation Projects," Working Papers 03_12, Motu Economic and Public Policy Research.
    2. Juan-Pablo Montero, 1999. "Voluntary Compliance with Market-Based Environmental Policy: Evidence from the U.S. Acid Rain Program," Journal of Political Economy, University of Chicago Press, vol. 107(5), pages 998-1033, October.
    3. Newell, Richard G. & Stavins, Robert N., 2000. "Climate Change and Forest Sinks: Factors Affecting the Costs of Carbon Sequestration," Journal of Environmental Economics and Management, Elsevier, vol. 40(3), pages 211-235, November.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Grimes, Arthur, 2005. "Regional and industry cycles in Australasia: Implications for a common currency," Journal of Asian Economics, Elsevier, vol. 16(3), pages 380-397, June.
    2. David C. Maré, 2005. "Indirect Effects of Active Labour Market Policies," Working Papers 05_01, Motu Economic and Public Policy Research.
    3. Arthur Grimes, 2005. "Intra & Inter-Regional Industry Shocks: A New Metric with an Application to Australasian Currency Union," Macroeconomics 0509019, EconWPA.
    4. Eric Karpas & Suzi Kerr, 2011. "Preliminary Evidence on Responses to the New Zealand Forestry Emissions Trading Scheme," Working Papers 11_09, Motu Economic and Public Policy Research.
    5. Michelle Poland & David C Maré, 2005. "Defining Geographic Communities," Urban/Regional 0509016, EconWPA.
    6. Isabelle Sin & Suzi Kerr & Joanna Hendy, 2005. "Taxes vs Permits: Options for Price-Based Climate Change Regulation," Treasury Working Paper Series 05/02, New Zealand Treasury.

    More about this item

    Keywords

    climate; forest; carbon sequestration; policy; New Zealand; Kyoto;

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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